Visa (NYSE:V) CEO Ryan Mcinerney Sells 10,485 Shares

by · The Markets Daily

Visa Inc. (NYSE:V – Get Free Report) CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Ryan Mcinerney also recently made the following trade(s):

  • On Wednesday, October 1st, Ryan Mcinerney sold 10,485 shares of Visa stock. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50.

Visa Price Performance

Shares of V stock traded up $3.10 during trading hours on Tuesday, hitting $340.00. 5,861,555 shares of the company’s stock were exchanged, compared to its average volume of 6,395,325. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a market cap of $623.15 billion, a P/E ratio of 33.30, a P/E/G ratio of 2.03 and a beta of 0.87. The firm has a 50 day moving average of $344.54 and a two-hundred day moving average of $348.57. Visa Inc. has a fifty-two week low of $291.58 and a fifty-two week high of $375.51.

Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the business earned $2.71 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Hedge Funds Weigh In On Visa

Several hedge funds have recently bought and sold shares of V. Vanguard Group Inc. increased its holdings in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after acquiring an additional 1,461,575 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after acquiring an additional 1,067,631 shares during the last quarter. Norges Bank purchased a new position in shares of Visa in the 2nd quarter valued at about $7,034,939,000. TCI Fund Management Ltd. increased its holdings in shares of Visa by 14.6% in the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after acquiring an additional 726,299 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. KeyCorp restated an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday, October 22nd. Barclays restated an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Raymond James Financial reiterated an “outperform” rating and set a $408.00 price target (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $400.00.

Check Out Our Latest Stock Analysis on Visa

About Visa

(Get Free Report)

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.

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